2 weeks ago
Terawulf has acquired a large AI-focused information halfway tract successful Kentucky arsenic it accelerates its displacement from bitcoin mining toward high-performance computing. The woody strengthens the company’s power-backed infrastructure strategy and drew a beardown effect from investors.
Key Takeaways
- Terawulf bought a Kentucky AI field targeting 1GW of HPC capableness by 2030.
- Terawulf shares jumped 13.6% arsenic AI gross surpassed bitcoin mining successful Q1 2026.
- Morgan Stanley and Google backed Terawulf’s $3B AI infrastructure enlargement plan.
Terawulf Shares Climb 13% arsenic AI Revenue Overtakes Bitcoin Mining Income
Terawulf Inc. is moving deeper into artificial quality (AI) infrastructure with the acquisition of a ample information halfway improvement tract successful eastbound Kentucky, underscoring however erstwhile bitcoin mining firms are chasing request for power-hungry computing capacity.
The Nasdaq-listed institution said it acquired the “Muskie Data Campus” from Industrial Equity Partners. The tract sits wrong the 1,000-acre Eastpark Industrial Park successful northeastern Kentucky and includes astir 285 acres of owned and controlled land.
Terawulf said the field is expected to enactment much than 1 gigawatt of AI and high-performance computing capacity. That is astir capable energy to powerfulness 750,000 homes.
The institution plans to bring the archetypal 500 megawatts online successful the 2nd fractional of 2028. A further 500 megawatts is expected to travel by the 2nd fractional of 2030.
Investors welcomed the move. Terawulf shares roseate arsenic overmuch arsenic 13.6% to commercialized supra $26, their strongest level successful astir 3 weeks. The banal has much than doubled since Jan. 1, 2026.
“The defining constraint successful this marketplace is nary longer computing hardware; it is power, transmission infrastructure, and execution certainty,” Chairman and CEO Paul Prager said. He added that Muskie combines scalable power, beardown transmission access, and improvement readiness successful a mode that is hard to replicate.
The acquisition gives Terawulf a 2nd large integer infrastructure field successful Kentucky. It already operates the 480-megawatt Justified Data field successful Hancock County.
Terawulf Accelerates Shift Toward High-Performance Computing
Terawulf has been repositioning itself arsenic a powerfulness infrastructure institution that builds integer infrastructure, alternatively than a axenic bitcoin miner. That strategy is opening to amusement up successful its fiscal results.
The company’s high-performance computing gross roseate 117% successful the astir caller quarter, helped by its Lake Mariner installation successful occidental New York. AI compute gross exceeded bitcoin mining gross for the archetypal clip successful the archetypal quarter.
The displacement has not travel cheaply. Terawulf reported a $427 cardinal nett nonaccomplishment arsenic spending connected infrastructure enlargement increased. However, the company’s broader information halfway buildout is backed by a $3 cardinal financing bundle arranged done Morgan Stanley, with Google backstopping the debt.
Terawulf is not alone. Hut 8, HIVE Digital, MARA Holdings, and IREN are besides pushing into AI and high-performance computing arsenic bitcoin mining margins shrink. For the sector, the contention is shifting from hash complaint to powerfulness contracts, transmission access, and the quality to present large-scale information centers connected time.
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